The social responsibility of the corporate sector reading answers

Corporate Social Responsibility Questions and Answers Get help with your Corporate social responsibility homework. Access the answers to hundreds of Corporate social responsibility questions that are explained in a way that's easy for you to understand. Can't find the question you're looking for? Go ahead and submit it to our experts to be answered.

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In the last decade, in particular, empirical research has brought evidence of the measurable payoff of corporate social responsibility (CSR) initiatives to companies as well as their stakeholders. Companies have a variety of reasons for being attentive to CSR. This report documents some of the potential bottomline benefits: reducing cost and risk, gaining competitive advantage, developing and maintaining legitimacy and reputational capital, and achieving win-win outcomes through synergistic value creation. The term “corporate social responsibility” is still widely used even though related concepts, such as sustainability, corporate citizenship, business ethics, stakeholder management, corporate responsibility, and corporate social performance, are vying to replace it. In different ways, these expressions refer to the ensemble of policies, practices, investments, and concrete results deployed and achieved by a business corporation in the pursuit of its stakeholders’ interests. This report discusses the business case for CSR—that is, what justifies the allocation of resources by the business community to advance a certain socially responsible cause. The business case is concerned with the following question: what tangible benefits do business organizations reap from engaging in CSR initiatives? This report reviews the most notable research on the topic and provides practical examples of CSR initiatives that are also good for the business and its bottom line. The Search for a...

Summary. It’s a common complaint. Companies keep trying to show the world that they are socially conscious and keep losing the battle.Anheuser-BuschandHyundaieven devoted this year’s Super Bowl ads to lauding their philanthropic efforts with decidedly mixed responses. Critics questioned Hyundai’s decision to spend $5 millionto advertisethe $15 million donated to its Hope on Wheels program in 2017 (although in fairness, it has donated $130 million over its 20-year history).Trying too hard can backfire.A major reason companies don’t get credit for their good works is they employ a one-size-fits-all strategy to communicating their efforts, while what’s needed are focused messages that matter to each of their four different audiences: corporate watchdogs, employees, investors, and customers. “Why don’t we get credit for all the good things we do?” the CEO of a major global corporation asked me recently. After all, the company has innovative and impactful programs to ensure safe working conditions; training programs to help low-wage workers in its supply chain increase their earnings; numerous environmental initiatives to reduce its use of water, energy, and raw materials; diversity and volunteering programs for employees; and a foundation that makes generous contributions both locally and globally. Yet no one seems to notice. It’s a common complaint. Companies keep trying to show the world that they are socially conscious and keep losing the battle. A major reason companies do...

Corporate Social Responsibility Broadly speaking, proponents of CSR have used four arguments to make their case: moral obligation, sustainability, license to operate, and reputation. The moral appeal—arguing that companies have a duty to be good citizens and to *do the right thing” —is prominent in the goal of Business for Social Responsibility, the leading nonprofit CSR business association in the United States. It asks that its members “achieve commercial success in ways that honor ethical values and respect people, communities, and the natural environment.” Sustainability emphasizes environmental and community stewardship. A. An excellent definition was developed in the 1980s by Norwegian Prime Minister Gro Harlem Brundtland and used by the World Business Council for Sustainable Devebpment “Meeting the needs of the present without compromising the ability of future generations to meet their own needs.” The notion of license to operate derives from the fact that every company needs tacit or explicit permission from governments, communities, and numerous other stakeholders to do business. Finally, reputation is used by many companies to justify CSR initiatives on the grounds that they will improve a company’s image, strengthen its brand, enliven morale, and even raise the value of its stock. B. To advance CSR, we must root it in a broad understanding of the interrelationship between a corporation and society while at the same time anchoring it in the strategies and activi...

I've observed a number of successful companies today that use social responsibility as a way to give back to society and thank customers for their loyalty. This can come in the form of projects, movements or empowerment of individuals. Whatever form these corporate ventures take, they are definitely a win for both the company and the community alike. I've also seen that some companies are taking the lead and venturing into humanitarian projects ranging from the construction of roads to the alleviation of poverty. CSR can help you attract and retain employees. One of the major reasons people apply to various companies is because of their CSR strategy. From my perspective, a CSR strategy shows a company is compassionate and treats all people, including employees, well. And a business that is committed to improving the world is likely to Simply put, social responsibility can help people see your company as a positive force in society. The projects you and your team take on can help raise awareness for important causes and keep your business top of mind. CSR is also important when it comes to branding. To have a successful brand and retain customers, businesses must create trust with their target audience, and I believe having a CSR strategy can help build a good reputation — and, in turn, earn trust and loyalty — among clients. Consumer loyalty goes a long way in helping a business stay afloat. Part of what makes a functioning business is your customers; without them, your bu...

• Corporate social responsibility is a business model by which companies make a concerted effort to operate in ways that enhance rather than degrade society and the environment. • CSR helps both improve various aspects of society as well as promote a positive brand image of companies. • Corporate responsibility programs are also a great way to raise morale in the workplace.  • CSRs are often broken into four categories: environmental impacts, ethical responsibility, philanthropic endeavors, and financial responsibilities. • Some examples of companies that strive to be leaders in CSR include Starbucks and Ben & Jerry's. For a company to be socially responsible, it first needs to be accountable to itself and its shareholders. Companies that adopt CSR programs have often grown their business to the point where they can give back to society. Thus, CSR is typically a strategy that's implemented by large corporations. After all, the more visible and successful a corporation is, the more responsibility it has to setstandards of ethical behavior for its peers, competition, and Small and midsize businesses also create social responsibility programs, although their initiatives are rarely as well-publicized as those of larger corporations. Types of Corporate Social Responsibility In general, there are four main types of corporate social responsibility. A company may choose to engage in any of these separately, and lack of involvement in one area does not necessarily exclude a com...